Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 15,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 15,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $17.85 per share, for a total transaction of $267,750.00. Following the completion of the acquisition, the insider now owns 13,219,273 shares of the company’s stock, valued at approximately $235,964,023.05. The trade was a 0.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Thursday, February 27th, Mutual Insurance Co Donegal bought 14,700 shares of Donegal Group stock. The stock was acquired at an average cost of $17.06 per share, with a total value of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal bought 12,000 shares of Donegal Group stock. The stock was acquired at an average cost of $16.49 per share, with a total value of $197,880.00.
• On Friday, December 13th, Mutual Insurance Co Donegal acquired 7,817 shares of Donegal Group stock. The shares were purchased at an average cost of $16.29 per share, with a total value of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal acquired 8,729 shares of Donegal Group stock. The shares were purchased at an average cost of $16.37 per share, with a total value of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal bought 70,000 shares of Donegal Group stock. The stock was bought at an average cost of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal bought 270,000 shares of Donegal Group stock. The stock was bought at an average cost of $16.66 per share, with a total value of $4,498,200.00.

Donegal Group Stock Up 0.7 %

DGICA stock opened at $17.94 on Thursday. The stock has a market capitalization of $608.09 million, a P/E ratio of 11.80 and a beta of -0.05. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $18.19. The firm has a 50-day moving average price of $15.32 and a 200-day moving average price of $15.35.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.39. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The company had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. As a group, equities research analysts anticipate that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were paid a $0.1725 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.69 annualized dividend and a dividend yield of 3.85%. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is currently 45.39%.

Institutional Trading of Donegal Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. KLP Kapitalforvaltning AS bought a new position in shares of Donegal Group during the 4th quarter worth approximately $68,000. SG Americas Securities LLC bought a new position in shares of Donegal Group in the 4th quarter worth $128,000. BNP Paribas Financial Markets lifted its holdings in shares of Donegal Group by 117.2% in the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after purchasing an additional 4,544 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Donegal Group in the 4th quarter worth $162,000. Finally, Private Advisor Group LLC bought a new position in Donegal Group during the 4th quarter valued at $177,000. Institutional investors and hedge funds own 27.96% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.